https://www.taxtmi.com/caselaws?id=23939 The High Court of Allahabad dismissed reference applications under section 256(1) of the Income-tax Act concerning accrued interest on "sticky advances" for the assessment year 1978-79. The court upheld the Commissioner's decision, rejecting the applications as they raised no statable questions of law. The court emphasized that the issues raised by the assessee were settled by precedent and lacked merit for further adjudication. Costs were imposed on the assessee, and the court found no grounds for revisiting the tax liability on "sticky advances" interest or the disputed amounts. en-us Tue, 18 Jul 1989 00:00:00 +0530 Fri, 15 Jan 2010 13:21:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23939 The High Court of Allahabad dismissed reference applications under section 256(1) of the Income-tax Act concerning accrued interest on "sticky advances" for the assessment year 1978-79. The court upheld the Commissioner's decision, rejecting the applications as they raised no statable questions of law. The court emphasized that the issues raised by the assessee were settled by precedent and lacked merit for further adjudication. Costs were imposed on the assessee, and the court found no grounds for revisiting the tax liability on "sticky advances" interest or the disputed amounts. Case-Laws Income Tax Tue, 18 Jul 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23939